Corporate diversity and economic performance: The impact of market specialization
提出基于市场的企业战略分类，认为在给定多元化水平下，专注于单一市场（消费或工业）的企业绩效更优，并用制造业样本验证了多元化战略与财务绩效的关系。
Abstract This papers introduces a market‐based typology of corporate strategy, which builds on previous typologies (Rumelt 1974, 1982). We argue that, because different markets require different skills for success, firms which concentrate in one market area (consumer or industrial), at given levels of diversification, should achieve superior performance. Empirical tests with a sample of manufacturing firms support this proposed relationship between diversification strategy and financial performance.